CAPITAL STOCK

12 Months Ended

Dec. 31, 2021

The Company had no shares of preferred stock outstanding as of December 31, 2021 and 2020. The activity related to outstanding common stock and common stock held in treasury was as follows:


	2021		2020		2019
	Outstanding Common Stock	Treasury Stock	Outstanding Common Stock	Treasury Stock	Outstanding Common Stock	Treasury Stock
Balance at beginning of period	52,524,391	57,134,828	53,687,528	55,971,691	55,862,360	53,796,859
Exercise of stock options	188,444	(188,444)	311,374	(311,374)	232,052	(232,052)
Settlement of restricted stock units – net of 61,377, 41,019, and 26,107 shares retained, respectively	127,969	(127,969)	82,241	(82,241)	52,182	(52,182)
Settlement of performance share units – net of 9,746, 16,830, and 6,737 shares retained, respectively	12,507	(12,507)	28,098	(28,098)	14,027	(14,027)
Purchase of treasury shares	(1,633,106)	1,633,106	(1,584,850)	1,584,850	(2,473,093)	2,473,093
Balance at end of period	51,220,205	58,439,014	52,524,391	57,134,828	53,687,528	55,971,691